Gold Reserve offers a review of the court decision in Citego Sele Process: The District Court of Delaware accepts the special recommendation of Elliott / Amber Energy $ 5.9 Billion BIDION

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Pembroke, Bermuda – Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (“Company”) (“Company” or “Company” or “company”) Elliott / Amber Energy despite its bid received by $ 2 billion at a price of $ 7.9 billion, joined the MULDITER Gold Reserve, SL) and opposition groups in Venezuela (Government of the Republic of Venezuela (SL Venezuela, Petroleos de Venezuela SA, PDVSA HOLTING Company and Cito Holding Inc.).

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Delaware court too inter alia The parties were ordered to file a joint status report on November 28, 2025, after which the court indicated that it would issue a final order on or before December 1, 2025.

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A copy of the order and opinion can be found here.

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Gold Reserve respects the Court’s decision and maintains its position that its previous bid should have been chosen for the reasons stated in its numerous articles. Gold Reserve also maintains its position the sale process suffered from significant conflicts of interest, including $170 in funds collected by special king advisors from Elliott partners and from the owners of ELLIOTS.

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Gold Reserve intends to explore and pursue all available appellate remedies and other remedies to protect its rights.

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In order to close on its purchase of PDVH shares, the power of Elliott / Amber must receive approval from the US government with a license issued by the office of foreign goods (“AMAC”) and obtain other regulatory approvals. The Delaware Court, in today’s order and opinion, stayed the Elliott / Amber Energy Closing “until it is available seven (7) days after the discovery of Aware indicating that Afac has surrendered, and other necessary approvals have been received, and the necessary transactions are ready to close.” The Delaware court said it provided the parties with the structures “adequate time to seek a third-party appeal pending appeal.”

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A complete description of the antitrust action can be found in the public access electronic records of Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1: 17-Mc-00151-DEL (D. DEL (D. DEL (D. DEL (D. DEL.

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Cautionary Statement Regarding Forward-Looking Statements

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This release contains “forward-looking statements” within the meaning of US Federal Security Laws and “forward-looking information” within the meaning of State Security Laws and Torturial Gold Reserve’s and its national management objectives, hopes, beliefs, beliefs, expectations for the future. Forward-looking statements are based on a number of assumptions and considerations that, while considered reasonable by management at this time, focus on significant business, economic and competitive risks and competitive factors. They are often expressed by words such as “expect”, “plan”, “proceed”, “request”, “check”, “check”, “intend”, “aim”, “aim”, “aim”, “aim”, ” Forward-looking statements contained in this press release include, but are not limited to, statements regarding any bid submitted by the company for the purchase of shares of PDVH (The “BID”).

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We caution that forward-looking statements involve known and unknown risks and other risks that may result in actual events, including or without limitation those arising from: The Hunger Award and / or the November 15, 2015 US Judgment; Gold Reserve may not succeed in any appeal or challenge in court of November 25, 2025 Order and Opinion Allow the special master’s recommendation of the Ellitt / Amber Energy Bid and reject the objections to the same, including the objections made by Gold Reserve; that the sales process may not lead to the sale of PDVH shares to any person, including Elliott / Amber Energy or another buyer recommended by a special king or approved by the court; that the company may take any money made due to failure to complete the bid or otherwise; the ability to use the attachment author provided by the company; Time is spent on various reports and / or other issues regarding the sales process may not be received; The ability of the company to otherwise participate in the sales process (and the associated costs associated with this); The amount, if any, of money associated with the sales process; Competing claims of other creditors of Venezuela, PDVSA and the company, including any interest on such judgments owed and any set aside. the uncertainty regarding the settlements between Venezuela and other creditors and the effect of any such settlements on the amount of money that may be obtained under the sale process; and classification of bankruptcy in relation to the sale process and / or claims of the company, including due to the prioritization of other claims. This list is not limited to factors that could affect any forward-looking statements of the company. For a more detailed discussion of the risk factors affecting the company’s business, see the discussion and analysis of the company for the period ended September 30, 2025 and other reports filed in Sedar+ and available under the company profile